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The Market In 5 Minutes

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IN THE NEWS

BENZINGA

It took a “Wonder Woman” not only to jump-start the summer box office, but end Time Warner Inc (NYSE: TWX)'s critically maligned skid as it tries to approximate the success of the rival Marvel Cinematic Universe franchise run by Walt Disney Co (NYSE: DIS): Link

Beware, mankind — machines are taking over. The fear has been voiced by tech titans such as Microsoft Corporation (NASDAQ: MSFT)'s Bill Gates and Tesla Inc (NASDAQ: TSLA)'s Elon Musk: Link

The auto industry has been suffering from a pricing decline so far in 2017, but slumping prices are not the only issue weighing down the industry in 2017: Link

THE WALL STREET JOURNAL

President Donald Trump will launch a new campaign this week aimed at fulfilling his pledge for $1 trillion of infrastructure investment, hoping to capitalize on lawmakers’ support for rebuilding the nation’s transportation systems at a time when his tax and health legislation are in flux: Link

General Motors Co. (NYSE: GM) Chief Executive Mary Barra faces shareholders this week, under pressure from a hedge-fund investor and fresh scrutiny following the ouster of her counterpart at a crosstown rival: Link

REUTERS

Apple Inc. (NASDAQ: AAPL) and Amazon.com Inc (NASDAQ: AMZN) will join Foxconn's bid for Toshiba Corp's semiconductor business, the Nikkei business daily quoted Foxconn Chairman Terry Gou as saying on Monday: Link

In early May, Goldman Sachs (NYSE: GS) turned down a request from Caracas to convert $5 billion in sovereign bonds into marketable securities partly because it would mean dealing directly with a Venezuelan state bank, according to people familiar with the talks: Link

BLOOMBERG

Investors looking for a return of market volatility might see those chances increase this week, with geopolitical risks looming large: Link

For the first time in years, Apple will use its annual developer conference to tout not just its software, but hardware too: Link

NY POST

Carl Icahn has big plans for the US auto-parts sector — and big retailers like AutoZone (NYSE: AZO), O’Reilly Automotive (NASDAQ: ORLY) and Advance Auto Parts (NYSE: AAP) aren’t going to like them: Link

ECONOMIC DATA

  • USA Unit Labor Costs (QoQ) for Q1 2.20% vs 2.50% consensus estimate. Nonfarm Productivity (QoQ) for Q1 0.00% vs -0.20% consensus estimate.
  • US Services Purchasing Managers' Index for May is schedule for release at 9:45 a.m. ET.
  • Data on factory orders for April will be released at 10:00 a.m. ET.
  • The ISM non-manufacturing index for May is schedule for release at 10:00 a.m. ET.
  • The labor market conditions index for May will be released at 10:00 a.m. ET.
  • The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
  • The TD Ameritrade Investor Movement Index for May is schedule for release at 12:30 p.m. ET.

ANALYST RATINGS

  • HSBC upgraded Chevron (NYSE: CVX) from Hold to Buy
  • Susquehanna upgraded Skechers (NYSE: SKX) from Neutral to Positive
  • Deutsche Bank upgraded WEX (NYSE: WEX) from Hold to Buy
  • Pacific Crest downgraded Apple from Overweight to Sector Weight
  • RBC downgraded Perrigo (NYSE: PRGO) from Sector Perform to Underperform
  • Wedbush downgraded Endocyte (NASDAQ: ECYT) from Outperform to Neutral

This is a tool used by the Benzinga News Desk each trading day — it's a look at everything happening in the market, in five minutes. To get the full version of this note every morning, click here or email minutes@benzinga.com.

Posted-In: Market in 5 minutesNews Global Top Stories Pre-Market Outlook Markets Best of Benzinga

 

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